CFPB Plans To Improve Reporting Of Mortgage Application Activity

CFPB Plans To Improve Reporting Of Mortgage Application Activity

activerain.trulia.com

activerain.trulia.com

In addition to improving data quality and streamlining the reporting process, the CFPB is considering implementing SAAS to facilitate the reporting process. AppraisalPro is currently integrated with TrakLogix, an SAAS platform.

The CFPB is proactively aiming to improve reporting …

Read more →

HMDA Analysis Shows Lenders Could Add Significant Revenues

HMDA Analysis Shows Lenders Could Add Significant Revenues

April 2014 Industry News - Mortgage Payment PriorityAn analysis of the 2013 HMDA data shows that lenders are missing opportunities; There is a gap in the approval rates between lenders. Some lenders have approval rates on non-conventional loans of as low as 11 perfect, where the typical …

Read more →

TILA-RESPA Integrated Disclosures Rule Explained

TILA-RESPA Integrated Disclosures Rule Explained

download (3)

TILA-RESPA standing at 1,888 pages, with over 400 changes, 1,122 business rules, and 362 data points is a terrifying upcoming change to the mortgage industry.

The official Home Loan Toolkit brochure you are required to use doesn’t explain “form rounding” …

Read more →

Bank Customers Embracing Mobile Banking – How Credit Unions And Community Banks Should Adapt

Bank Customers Embracing Mobile Banking – How Credit Unions And Community Banks Should Adapt

mobile_banking_application_platforms_operating_systems_customer_ratingsMore than 75 million American consumers use their smartphones for mobile banking. National banks are leading the way with mobile banking because consumers who want digital banking believe big banks have better mobile banking solutions. 80% of users report using …

Read more →

Credit Box To Be Opened By Large Lenders

Nonprime loans help borrowers with low credit scores become homeownersThe Credit Box Opens

Since the great depression, housing starts have nearly doubled. More recently, strong investors have been buying properties in distress at a insatiable rate, driven by low house prices and strong rental demand, but as that trend …

Read more →

The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB Proposes New Rules and Changes to Regulation C to Apply Changes to the HMDA Required by Dodd-Frank

The CFPB’s Proposed Rules Primarily Effects How Banks Collect and Report Data

 

On August 29th, 2014, the CFPB suggested a  rule and changes to its Regulation C (Home Mortgage Disclosure) to apply changes to the HMDA

Read more →

OCC Finalizes Large Financial Institutions & Banks Guidelines; Raises Governance and Risk Management Standards

OCC Finalizes Large Financial Institutions & Banks Guidelines; Raises Governance and Risk Management Standards

Final Risk Guidelines Represent a ‘Sea Change’ in Regulation

 

Last week the Office of the Comptroller of the Currency (OCC) published its final guidelines for large financial institutions regarding “heightened expecations” for the risk management. These institutions include insured …

Read more →

Expectations for Mortgage Servicers and Adjustments to the CARD Act

Expectations for Mortgage Servicers and Adjustments to the CARD Act

CFPB Releases Expectations for Mortgage Servicers and Adjustments to the Card Act

Know Before You Owe - Mortgage Pain Points

Last Friday, the CFPB issued a bulletin that outlined expectations for mortgage servicers that transfer loans; it details how mortgage servicers should heed new rules protecting consumers applying …

Read more →

CFPB Proposes Remedy for Mortgage Pain Points

CFPB Proposes Remedy for Mortgage Pain Points

CFPB Study Looks at Mortgage Pain Points

Know Before You Owe - Mortgage Pain PointsOver the course of the last year, the Consumer Financial Protection Bureau (CFPB) has been gathering data on the mortgage loan closing process. They solicited feedback from borrowers, lenders and others involved in

Read more →